New York, NY – Summit Professional Networks, whose portfolio includes three conferences and exhibitions, was sold to ALM, a New York-based media firm that specializes in legal and insurance news.
The deal was announced six months after Summit sold its annual African Mining Indaba conference to Euromoney Institutional Investor PLC.
The Summit assets acquired by ALM include National Underwriter, InsideCounsel, and other publications, and Judy Diamond Associates, a provider of data and prospecting tools for the benefits industry.
Summit also organizes three specialized annual conferences: AM&AA/ The Alliance of Mergers & Acquisition Advisors Winter Conference in Las Vegas; IC Inside Counsel Super Conference held in Chicago, and the Benefits Selling Expo in Scottsdale, AZ. Each meeting takes place in a hotel or resort and hosts about 50 exhibitors annually.
ALM is best known as the publisher of The National Law Review and The American Lawyer, but it also sponsors 15 specialized meetings and conferences in the U.S., China and Singapore. ALM was acquired in June 2014 by a consortium led by the equity firm Wasserstein & Co., LP.
Bill Carter, president and CEO of ALM, said acquiring Summit cleared the way for further expansion in its strategic market. “What makes Summit an ideal fit with ALM is their strong competitive position in the markets they serve, driven by a combination of award‐winning journalism and robust custom marketing solutions,” he said.
The transaction was expected to close by January 31. The Jordan, Edmiston Group, Inc. (JEGI), advised and represented Summit in the negotiations.
Reach Bill Carter at (212) 457-9400 or firstname.lastname@example.org; Steve Weitzner, president & CEO of Summit, at (800) 543-0874 or email@example.com; Adam Gross, chief Marketing Officer for JEGI, at (212) 754-0710 or firstname.lastname@example.org